Raymond James & Associates Has $51.52 Million Stock Holdings in Zurn Elkay Water Solutions Co. (NYSE:ZWS)

Raymond James & Associates lifted its stake in shares of Zurn Elkay Water Solutions Co. (NYSE:ZWS - Free Report) by 4.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,433,580 shares of the company's stock after buying an additional 61,748 shares during the quarter. Raymond James & Associates owned about 0.84% of Zurn Elkay Water Solutions worth $51,523,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Tortoise Investment Management LLC boosted its stake in shares of Zurn Elkay Water Solutions by 76.7% in the second quarter. Tortoise Investment Management LLC now owns 859 shares of the company's stock valued at $25,000 after buying an additional 373 shares during the period. Quarry LP grew its holdings in shares of Zurn Elkay Water Solutions by 178.7% during the 2nd quarter. Quarry LP now owns 836 shares of the company's stock worth $25,000 after purchasing an additional 536 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Zurn Elkay Water Solutions in the second quarter worth $29,000. V Square Quantitative Management LLC acquired a new position in Zurn Elkay Water Solutions in the third quarter valued at about $36,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Zurn Elkay Water Solutions by 732.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,440 shares of the company's stock worth $42,000 after purchasing an additional 1,267 shares during the period. Institutional investors own 83.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Zurn Elkay Water Solutions from $35.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Oppenheimer upped their price objective on Zurn Elkay Water Solutions from $37.00 to $40.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Stifel Nicolaus increased their price objective on shares of Zurn Elkay Water Solutions from $34.00 to $36.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $37.40.

Insider Buying and Selling

In other Zurn Elkay Water Solutions news, VP Sudhanshu Chhabra sold 52,851 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the completion of the sale, the vice president now directly owns 80,151 shares in the company, valued at approximately $2,608,915.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Zurn Elkay Water Solutions news, Director Timothy J. Jahnke sold 15,600 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.03, for a total value of $515,268.00. Following the transaction, the director now directly owns 385,017 shares of the company's stock, valued at approximately $12,717,111.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sudhanshu Chhabra sold 52,851 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $32.55, for a total transaction of $1,720,300.05. Following the sale, the vice president now directly owns 80,151 shares of the company's stock, valued at approximately $2,608,915.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 102,572 shares of company stock valued at $3,473,472 over the last quarter. Insiders own 3.80% of the company's stock.

Zurn Elkay Water Solutions Trading Down 1.0 %

NYSE ZWS traded down $0.36 during trading hours on Tuesday, reaching $36.51. The company's stock had a trading volume of 866,698 shares, compared to its average volume of 1,120,473. The firm has a fifty day simple moving average of $33.89 and a 200-day simple moving average of $32.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.84 and a quick ratio of 1.75. Zurn Elkay Water Solutions Co. has a 52 week low of $25.09 and a 52 week high of $38.11. The stock has a market cap of $6.31 billion, a P/E ratio of 51.42, a P/E/G ratio of 2.01 and a beta of 1.14.

Zurn Elkay Water Solutions (NYSE:ZWS - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. Zurn Elkay Water Solutions had a net margin of 8.80% and a return on equity of 12.82%. The firm had revenue of $412.00 million during the quarter, compared to the consensus estimate of $409.14 million. During the same quarter last year, the firm earned $0.24 earnings per share. The company's revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts forecast that Zurn Elkay Water Solutions Co. will post 1.21 earnings per share for the current fiscal year.

Zurn Elkay Water Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Tuesday, August 20th. Zurn Elkay Water Solutions's dividend payout ratio (DPR) is presently 45.07%.

About Zurn Elkay Water Solutions

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.